Answer the Question on the Basis of the Accompanying Table

question 177

Multiple Choice

Answer the question on the basis of the accompanying table, which shows the demand schedule facing a non discriminating monopolist $\begin{array}{|c|c|}\hline \mathrm{P} & \mathrm{Qd} \\\hline \$ 10 & 1 \\\hline 7 & 2 \\\hline 5 & 3 \\\hline 3 & 4 \\\hline 1 & 5 \\\hline\end{array}$ Assume that this monopolist faces zero production costs. The profit-maximizing monopolist will set a price of

• A) $10.
• B) $7.
• C) $5.
• D) $3.

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Definitions:

James-Lange Theory

A theory of emotion proposing that emotions occur as a result of physiological reactions to events, suggesting that bodily responses precede emotions and help in identifying them.

Physiological Changes

Alterations in the body's normal biological functions, which can be responses to various factors including stress, environmental changes, or health conditions.

Happiness

A state of well-being and contentment characterized by positive or pleasant emotions ranging from contentment to intense joy.

Stimulus

(STIM-yu-lus) Any event or object in the environment to which an organism responds; plural is stimuli.